Please note: This is not the complete role profile due to posting limitations. To review the full details, please click Position Details

Business and Structure

Established in 2019 by the Financial Services Authority Act, BC Financial Services Authority (BCFSA) is a Crown agency of the Government of British Columbia headquartered in Vancouver with over 350 employees in a variety of disciplines. BCFSA is responsible for promoting confidence in British Columbia’s financial services sector by providing risk-based and proportional regulation and protecting consumers.

BCFSA has accountabilities under 12 statutes and associated regulations, and oversees credit unions, trust companies, insurance companies, pension plans, mortgage services, real estate services, real estate development marketing, and money services. BCFSA also administers the Credit Union Insurance Corporation of British Columbia (CUDIC).

The scope of BCFSA’s regulatory mandate reflects the size and complexity of the financial services sector in British Columbia, which, as of March 31, 2025, included: 31 credit unions; over 600 pension plans; 251 insurance and trust companies; over 7,000 mortgage brokers and brokerages; and over 38,000 real estate licensees, brokerages, branches, and personal real estate corporations.

More information can be found on https://www.bcfsa.ca/.

Strategic Direction

BCFSA’s strategic plans and operations are aligned with the priorities and expectations set out in the latest Mandate Letter issued by the Minister of Finance, which is available on https://www.bcfsa.ca/about-us/what-we-do/corporate-publications.

A properly functioning and efficient financial services sector in which British Columbians can place their trust and confidence is essential to the province’s economy and the day to day lives of British Columbians. In order to support this objective, BCFSA is focused on achieving goals and deliverables associated with the following strategic priorities: sector safety and soundness; consumer protection; external engagement and communications; innovation and operational excellence; and BCFSA’s team members.

Experience and Qualifications

It is expected that there will be one vacancy on the BCFSA Board of Directors (the Board) effective June 30, 2026.

Basic Requirements

In order to be considered, applicants must be a resident of British Columbia and willing to undergo screening processes conducted by the Ministry of Finance and BCFSA. Any candidate who is: a licensee or registrant (mortgage broker, real estate agent, etc.); an employee, officer, or director of a regulated entity (credit union, trust company, insurance company, etc.); or involved in any capacity where a fiduciary duty to a regulated entity exists, will not be considered eligible for this opportunity due to real or perceived conflict of interest.

Specific Experience and Qualifications

Experience, knowledge, and qualifications in the following areas are being sought for the Board member position currently under consideration:

• Financial oversight, risk, and compliance, with preference for accounting or related financial designation
• Financial crime and anti-money laundering

Apart from experience or familiarity with regulatory decision making and relevant industry experience in the financial services sector, expertise in the following areas would be considered an asset:

• Real estate services and development
• Legal, preferably with financial services sector expertise
• Human resources, including labour relations
• Information management and technology

While previous experience on a board is not required, it is important that candidates interested in the positions understand the roles and responsibilities of a board member and have the necessary experience and demonstrated skills and attributes to enable them to contribute to effective decision making and oversight by the Board.

Part of BCFSA’s commitment to robust governance includes providing new members of the Board with a comprehensive orientation and ongoing professional development opportunities.

Diversity and Inclusion

People from all regions of our province are invited to help renew British Columbia’s public sector boards. Consideration will be given to qualified individuals with a broad range of backgrounds in community, labour, and business environments. The selection process will recognize lived experience and volunteer roles as well as paid employment and academic achievements.

We are committed to supporting strong organizations that represent the diversity of our province. Indigenous applicants, people of colour, all genders, 2SLGBTQ+, and persons with disabilities are encouraged to apply.

Competencies/Attributes

Collectively, the Board should collectively demonstrate core competencies in the following areas:

• Working or technical expertise relevant to the operation of an organization including:
• Financial, including internal control and accounting
• Risk management
• Information management and technology
• Communications and privacy
• Organizational leadership and supervisory experience
• Strategic planning
• Sustainability and corporate social responsibility
• Human resources, including recruitment and labour relations
• Equity, diversity, and inclusion (EDI)
• Market conduct expertise
• Legal expertise
• Knowledge of governance and experience serving on boards
• Knowledge of government and the public sector environment
• Industry knowledge or experience in the financial services sector
• Knowledge of the community served by BCFSA

Time Commitment

The Board typically meets about five times per year, with additional meetings and workshops scheduled throughout the year as needed. Regularly scheduled Board meetings typically take place on a Wednesday from 9:00 a.m. to 4:00 p.m. at the BCFSA Office in downtown Vancouver, B.C., with options for virtual attendance as requested. Board members are required to also serve on the board of CUDIC as per the Financial Institutions Act, which meets quarterly and mostly on the same days as the BCFSA Board.

Board members typically serve on one or more Board Committees, which meet quarterly in the same week as regularly scheduled quarterly Board meetings, with additional meetings scheduled throughout the year as needed.

Board members are required to attend all meetings and prepare for them by fully reviewing the background and briefing materials provided in advance. Board members are also expected to participate in various professional development opportunities that are deemed as appropriate by the Governance Committee and various organizational functions throughout the year.

Term

Board members are appointed by Order in Council by the Government of British Columbia. In accordance with section 3 of the Administrative Tribunals Act, Board members are generally appointed for an initial term of two to four years. Board members may be eligible for reappointment after a merit-based process, although reappointments are not guaranteed. Lengths of appointment and reappointment terms may be adjusted to ensure Board continuity and stability, optimal succession planning, and staggering of appointments.

Compensation

Board members receive remuneration and reimbursement of expenses incurred for the work undertaken for the Board. Remuneration and reimbursement of expenses are paid in accordance with the Treasury Board Directive 1/24 dated April 1, 2023 and the Appointee Remuneration Plan approved by the Minister of Finance. The current per diem rate is $785.

Personal Attributes

BCFSA is committed to upholding a strong set of values which demonstrate that its work in the public interest is principled, fair, and transparent. It is expected that Board members embrace the following values: integrity, courage, innovation, growth, collaboration, and EDI.

In addition, all Board members should possess the following personal attributes:

• High ethical standards and integrity in professional and personal dealings
• Appreciation of the responsibilities to the public
• Ability and willingness to raise potentially controversial issues in a manner that encourages dialogue
• Flexibility, responsiveness, and willingness to consider others’ opinions
• Capability of a wide perspective on issues
• Ability to listen and work as a team member
• No direct or indirect conflict of interest with the Board member’s responsibility to the organization
• Strong reasoning skills
• Ability and willingness to fulfill time commitment required to carry out responsibilities
• Commitment to continuous learning about BCFSA and the financial services sector

Role

The Board, as a governing body, acts collectively and exercises its powers and responsibilities as a group in supervising the management of the affairs of BCFSA and performing the following roles:

• Leader: Set the strategic direction for BCFSA and empower senior management to implement direction from the Board.
• Overseer: Establish evaluation criteria and processes, and evaluate performance measures, and hold senior management accountable.
• Steward: Provide stewardship for the effective delivery of the organization’s mandate.
• Reporter: Report to the government, public, financial services sector participants, and others.

Due to LinkedIn posting length limitations, please review the additional role requirements and accountabilities: Position Details

Submitting Expressions of Interest

You may submit an Expression of Interest in serving on the Board by clicking on the “Apply” button at the top of this page. For more information on the Board, refer to the Directory of Organizations. For information on the Crown Agencies and Board Resourcing Office (CABRO) refer to the CABRO website.

British Columbia Guidelines

Appointments to British Columbia’s public sector organizations are governed by written general conduct guidelines.